Savings

[Iowa10000]

If I came to you and told you that if you give me 8% of your income and based on how many years you do this I will promise you a set amount of return. Then 10 or 20 years into this agreement I come back and say well things haven't worked out well and I did a poor job of what I was trying to do and if you want what i promised, your going to have to double what you were giving me.

 

[Leweman]

Why would I wanna give you 8 percent of my savings?

 

[Iowa10000]

where do you invest your hard earned money?

 

[Leweman]

Oh income ... I get it.

 

[Leweman]

Most of mine is in fidelity mutual funds, roth IRA and some Ford stock and Silver shares.

 

[Iowa10000]

The other problem i don't understand is why are states running a pension fund?
Basicly all a pension does is invest people's money and look for a return. Most Unions don't seem to have a problem with meeting what they promise, so why didn't the states turn it over to them to run?

The truth is most states underfund their liabilities each and every year, that they do not invest wisely what the employee has allowed them to keep out of their wages along with not putting into the fund what they agreed to do, but used that money for other purposes! kinda sounds like what the fed govt has done to SS doesn't it.
If all the money taken into SS was getting a decent return instead of just being an IOU from the feds, over the last 50 years we would all be rich. Not to mention they brought so many people into the system after the fact, yet they got the same benefits at the end.

 

[Mini 14]

If I came to you and told you that if you give me 8% of your income and based on how many years you do this I will promise you a set amount of return. Then 10 or 20 years into this agreement I come back and say well things haven't worked out well and I did a poor job of what I was trying to do and if you want what i promised, your going to have to double what you were giving me.

Depends on the "set amount of return," and what you're going to do with my money.

What you got in mind???

 

[Two Thumbs]

If I came to you and told you that if you give me 8% of your income and based on how many years you do this I will promise you a set amount of return. Then 10 or 20 years into this agreement I come back and say well things haven't worked out well and I did a poor job of what I was trying to do and if you want what i promised, your going to have to double what you were giving me.

I have 5 kids. I can't put anything away.

so I will be working until I'm dead

 

[Leweman]

I would cut my losses and probably stop investing my money with people I meet on internet message boards.

 

[Iowa10000]

As an employer I will take your money, a certain amount out of your check and i will give you this amount 30 years down the line based on how much you are willing to give me to invest. Now once this is established and your 15 years into this agreement I come to you and say, hey this deal I agreed to do for you isn't working out so good,. But here is what we can do to make it work, the payout will be the same but I'm going to have to start taking 20% of your check.

What Jail would you want me to attend?

 

[R.D.]

If I came to you and told you that if you give me 8% of your income and based on how many years you do this I will promise you a set amount of return. Then 10 or 20 years into this agreement I come back and say well things haven't worked out well and I did a poor job of what I was trying to do and if you want what i promised, your going to have to double what you were giving me.

Makes no cents

 

[Mini 14]

You're going to have a hard time beating my return over the past 10 years, but I'm always willing to listen.

What you got?

 

[Mini 14]

As an employer I will take your money, a certain amount out of your check and i will give you this amount 30 years down the line based on how much you are willing to give me to invest. Now once this is established and your 15 years into this agreement I come to you and say, hey this deal I agreed to do for you isn't working out so good,. But here is what we can do to make it work, the payout will be the same but I'm going to have to start taking 20% of your check.

What Jail would you want me to attend?

Still not enough info.

How much of a return are you offering?

 

[Immanuel]

I realize that you are trying to discuss Social Security, but there is so much more to SS than the OP brings up. Some of which are good for citizens and some of which are awful.

Given the choice, I would op out of SS. But, if that choice were given, then the plan would fail miserably. Given the choice I would mend the program in order to improve it and NOT eliminate it.

But, for the record Iowa10000, if it is just you and me in this plan, I'm not giving you a bloody cent! Not one bloody cent.

Immie

 

[Immanuel]

As an employer I will take your money, a certain amount out of your check and i will give you this amount 30 years down the line based on how much you are willing to give me to invest. Now once this is established and your 15 years into this agreement I come to you and say, hey this deal I agreed to do for you isn't working out so good,. But here is what we can do to make it work, the payout will be the same but I'm going to have to start taking 20% of your check.

What Jail would you want me to attend?

Whoops! You were speaking of company pensions?

Not much better than SS if you ask me. As long as you have control of my money, I'm not trusting you at all.

I'll go with an IRA or a 401(k) because I control that money, but, I'm not giving you control over my savings only to find out that after 40 years of working for you, the guy you hired and gave fiduciary responsibility to, absconded with my money and left me high and dry.

Immie

 

[Mini 14]

I need to know what the return is before I'll even listen to the rest of the pitch.

Don't take it personally, that's how I do ALL of my investing.

 

[Immanuel]

I need to know what the return is before I'll even listen to the rest of the pitch.

Don't take it personally, that's how I do ALL of my investing.

It takes more than promised return to get my money. The risk that the money may not be there at all when I need it is as important... no make that more important than any promised return.

Immie

 

[R.D.]

I need to know what the return is before I'll even listen to the rest of the pitch.

Don't take it personally, that's how I do ALL of my investing.

That's pretty much how all investing is done.

His plan as is only demonstrates how fools part with money.

 

[Mini 14]

I need to know what the return is before I'll even listen to the rest of the pitch.

Don't take it personally, that's how I do ALL of my investing.

It takes more than promised return to get my money. The risk that the money may not be there at all when I need it is as important... no make that more important than any promised return.

Immie

Agreed....but if he tells me the return is potentially 4% over 10 years, we're done. We'll never get to the "tell me more" stage.

He's going to have to have a good number on the return for me to ever get to the point of investigating the risk.

 

[Iowa10000]

well say I guarentee you 7% per year which comes out to say 40.00 per year worked each month which I will give you after you retire with 30 years working.

That would be 1200 per month for the rest of your life.

After 15 years I say to you that you can still get that 1200.00 but I am going to have to have you give me 16% instead of 8% from now on. But you say we had an agreement in writing, we both signed the agreement. You need to keep it the same you say and I look you in the eye, well I screwed up and I want to change it. besides I think it's a good deal for you.
Am I headed for jail yet?